Stocks of the Hour: ResMed, Origin Energy & Macquarie Group

Company News

by Lauren Evans

ResMed (ASX:RMD) recorded revenue of US$904 million for the September quarter, up 20 per cent year-on-year, driven by increased demand for sleep and respiratory care devices. However, the company's gross margin decreased 230 basis points, mainly due to higher manufacturing costs. Shares in ResMed (ASX:RMD) are trading 4.1 per cent higher at $37.12.

Origin Energy (ASX:ORG) posted its September quarter results with a 25 per cent increase quarter-on-quarter in revenue from its Australia Pacific LNG project, and a 69 per cent increase year-on-year as global commodity prices rebounded. Higher oil prices were offset by lower global demand and supply shortages. Shares in Origin Energy (ASX:ORG) are trading 1.5 per cent lower at $5.04.

Macquarie Group (ASX:MQG) has more than doubled its first-half profit to $2.04 billion and has announced a $1.5 billion capital raising in order to invest in new opportunities. Profit increased 107 per cent year-on-year and was nearly in line with the $2.03 billion recorded in the half year ending March 31. Shares in Macquarie Group (ASX:MQG) last traded at $197.83.

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